Data for Horizon Ltd. for the fiscal year ending September 30, 2024:

• Sales: ₹500,000
• Cost of Goods Sold: ₹300,000
• Administrative Expenses: ₹40,000
• Selling Expenses: ₹25,000
• Interest Expense: ₹10,000
• Income Tax: ₹12,000

Requirements (in bullet points):

• Calculate the gross profit.
• Determine the operating profit.
• Compute the net profit before tax.
• Calculate the net profit after tax.
• Prepare the income statement.